In the latest Top 50 Independent Forecourt Traders Report recently published, Penny Petroleum held its place in the Top 5.
This time last year, the final Covid restrictions had just been lifted and we were all looking forward to some semblance of normality returning to life in the UK – which in many ways it has. However, little did we realise what a political rollercoaster the country would face and it’s this, alongside the continuing Ukraine-Russian war, which has put a great deal of pressure on energy supplies and, ultimately, the cost of living.
The Forecourt Traders Association used their usual criteria to compile the order of the list and encompasses the following factors:
- The number of sites owned or operated
- The annual fuel volume
- the annual turnover of the business
Based on the criteria, Penny Petroleum Group gained its 5th position for the second time in a row.
Penny Petroleum did report that trading has been challenging, mainly due to price increases and lack of availability in some areas, but said that a leaner senior team had been able to react quicker to the market and minimise any adverse effects to the business. After 15 years, Operations Manager, Tony Bailey retired in February 2022, when Vicky Hennessy was appointed as COO, and Rob Massey and David Miller moved into Regional Manager positions.
Penny Petroleum has continued to develop stores and completed six refits, three major forecourt refreshes and eight re-pumps in 2022. As part of its wholesale proposition, it now has Costcutter as one of its partners and currently has seven stores trading with them. The group have also very recently announced a further 8 forecourt acquisitions, giving Penny Petroleum a great start towards an improved position in next year’s report.
2023 will also see the team further increase its ‘Penny on the Move’ and ‘Food on the Move’ brands across the estate. And Just Eat and parcel delivery/collection services will be expanded too. So, the only conclusion anyone should come to is that Penny is very definitely ‘On The Move’. We are looking forward to next year already!